Blog is word of the year for 2004 (by Merriam-Webster).
Corporate Engagement offers this round up in relation to corporate blogging including beSpacific's powerpoint on the topic.
I spoke to someone recently who thought blogs did not meet the "cosmetic" standards of websites! He is wrong (check out samples of the blogs designed by Kevin O'Keefe) and is missing out on an opportunity to talk to his customers.